Triplex with Three Residential
1131 W ARAPAHOE Ave Salt Lake City, UT 84104
For Sale
$565,000
MULTI_FAMILY - Other - Salt Lake City, UT
Property Size2,230 SF
Lot Size0.14 Acres
Price / SF$253.36
Days on Market47
Property Features for 1131 W ARAPAHOE Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 5, Bedroom 2, Bathroom 3
- Parking
- 7
- Parking features
- Covered
- Window features
- Blinds
- Interior features
- Range/Oven: Free Stdng.
- Exterior features
- Basement Entrance
- Standard status
- Active
- APN
- 15-11-126-025
- Size
- 2,230 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2648
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas, Central
Building Details
- Year built
- 1962
- Number of units
- 3
- Flooring type
- Vinyl, Carpet
- Building materials
- Brick, Frame
- Roof type
- Asphalt
- Architectural style
- Other
Listing Agency:
Investment Realty Advisors LLC
(435) 485-7070
Listed By:
Porter Criddle
(801) 694-5291
Added: Jun 11
Changed: Jul 17
Last Checked: Jul 27 at 6:06AM
MLS# 2164743
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Investment Insights
Based on property information with market context.
This for-sale triplex at 1131 W Arapahoe Ave offers three residential units with a mix of layouts. Unit 1 is a 2 bed/1 bath currently rented at $1,120 per month. Unit 2 is a 2 bed/1 bath rented at $1,375 per month. Unit 3 is a vacant 1 bed/1 bath listed at $995 per month. The property is identified as 2,230 square feet on a 0.14-acre lot.
The property is located in Salt Lake City, Utah 84104. It includes both occupied and vacant space, creating straightforward leasing dynamics within the same building.
For investors or owner-operators looking for an income property, the current occupancy provides an immediate rental base while Unit 3 is available for lease-up. The seller indicates seller financing is available, which may broaden financing options for qualified buyers. As presented, the stated potential gross rental income is approximately $3,490 per month once all units are leased.
The property is located in Salt Lake City, Utah 84104. It includes both occupied and vacant space, creating straightforward leasing dynamics within the same building.
For investors or owner-operators looking for an income property, the current occupancy provides an immediate rental base while Unit 3 is available for lease-up. The seller indicates seller financing is available, which may broaden financing options for qualified buyers. As presented, the stated potential gross rental income is approximately $3,490 per month once all units are leased.
Key Highlights
- Triplex with strong unit mix: two 2 bed/1 bath units plus one vacant 1 bed/1 bath
- Current rents: Unit 1 at $1,120/mo and Unit 2 at $1,375/mo; Unit 3 listed at $995/mo
- Approx. potential gross rental income of $3,490/mo once Unit 3 is fully leased
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.0k | $20.16 |
| − Vacancy | −$2.5k | −$1.11 |
| EGI | $42.5k | $19.05 |
| − OpEx | −$12.7k | −$5.72 |
| NOI | $29.7k | $13.34 |
2,230 SF · lease $20.16/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$424.8K
$371.7K – $495.7K
NOI $29,739 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$394.7K
$345.3K – $460.4K
NOI $27,626 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$600.8K
$525.7K – $700.9K
NOI $42,056 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Solid income-producing triplex featuring two occupied 2-bedroom units and one vacant 1-bedroom unit.
Where is this triplex located?
The property is located at 1131 W ARAPAHOE Ave Salt Lake City, UT.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Triplex with strong unit mix: two 2 bed/1 bath units plus one vacant 1 bed/1 bath; Current rents: Unit 1 at $1,120/mo and Unit 2 at $1,375/mo; Unit 3 listed at $995/mo; Approx. potential gross rental income of $3,490/mo once Unit 3 is fully leased
